Monday, September 24, 2007

5 Top Questions about Life Insurance

1) Do I need a medical exam before getting a Life Insurance policy?
In most cases, yes. It’s free and the Life Insurance company you choose will send a paramedic to your home or office to perform the exam at your convenience. For tips on getting your best results go to; How to get the best results from your medical exam
2) How do I know how much Life Insurance is right for me?
Most people buy Life Insurance to replace income lost if a breadwinner dies. The most economical form of Life Insurance is “Term” Insurance. Many “needs calculators” are available online to give you an idea of what you should need. A licensed, impartial Term Life expert is also invaluable in helping you determine the Life Insurance company that offers the best prices for you.

3) I’m young and healthy. Why buy Life Insurance?
The younger you are and the better your health, the less your Life Insurance will cost. Not only that, you can lock in your low Term Life Insurance rates for up to 30 years. As long as you stay current with your premiums, your price will remain the same — even if your health declines.

4) I have a Life Insurance policy from my employer. Isn’t that enough? It depends on how much coverage you have. Also, if you change jobs, you may not be able to take your Insurance with you. If you change or lose your job, you may not be able to take your group insurance with you. You could have a health problem or risk factor at that time that could make a new Life Insurance policy very expensive. Even worse-you could be uninsurable. Finally, group Life Insurance policies can increase in price every year. Competition between Term Life companies is intense; prices are at all time lows. You may be able to save big money by buying through an independent company that shops for your best prices.

5) Wouldn’t I be better off investing the money I’d otherwise spend on Life Insurance?
Can you afford the risk? Stock prices rise and fall. The coverage provided by a Term Life Insurance policy is guaranteed. And with Term Life Insurance prices so low, you simply can’t find a more affordable way to give your family financial protection.

SelectQuote has exclusive videos of Suze Orman offering impartial advice on buying Life Insurance.

No comments: